Ram buys articles at 70 for Rs. 890 and sold at 60 for Rs. 890. What is his gain percent?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. %.
Ram buys articles at 70 for Rs 890,
⇒ CP of 1 article = 890/70
Ram sold 60 articles at Rs 890,
⇒ SP of 1 article = 890/60
Profit = (890/60) - (890/70) = 89/42
Profit % = (Profit/CP) × 100
⇒ Profit % = {(89/42) / (890/70)} × 100
⇒ Profit % = 100/6 % = %